Rivermark Northern Liberties Groundbreaking Celebrates Transformation for Philadelphia’s Delaware River Waterfront
City, DRWC join JAG and Haverford Properties for Rivermark Northern Liberties Event
(Philadelphia, PA) December 14, 2022 – Jefferson Apartment Group (JAG) and Haverford Properties Inc. were joined today by city officials and the Delaware River Waterfront Corporation (DRWC) for a groundbreaking event at Rivermark Northern Liberties—the new 9-acre mixed-use development on the Delaware River waterfront formerly known as Festival Pier in Philadelphia’s Northern Liberties neighborhood.
The development includes an array of public-use features, including a large public plaza, splash pad water attraction, art installations, an extension of the Delaware River Trail, and public waterfront access, in addition to 470 luxury apartment units and 45,000 square feet of vibrant retail and restaurant space anchored by a Sprouts Farmers Market. Most recently, the site was home to the Festival Pier outdoor concert venue, which closed in 2019.
“I am pleased to celebrate the construction underway on this new jewel on our city’s waterfront,” said Philadelphia Mayor Jim Kenney. “Rivermark Northern Liberties will be a destination for our entire city. It will enhance and activate a large section of the Delaware River Waterfront—and will welcome residents to live, shop, dine, and enjoy recreation along the river.”
JAG, a leading multifamily developer and operator specializing in premier apartment communities on the East Coast, along with joint venture partner Haverford Properties, closed earlier this year on the long-term ground lease for the redevelopment at 501 N. Christopher Columbus Boulevard (at the corner of North Columbus and Spring Garden Street) with the Delaware River Waterfront Corporation. Site work began in the spring.
“Bringing to life the vision for a revitalization of the former Festival Pier site is the result of years of collaboration among state and city officials, the community, landowner DRWC and JAG and Haverford Properties,” said Charles Houder, President and Founder of Haverford Properties. “Seeing construction underway on Rivermark Northern Liberties affirms the dedication and hard work of many stakeholders who recognized the economic and public benefits of the project. We look forward to seeing it come alive when it delivers in Spring 2024.”
“We are thrilled to see Festival Pier transform into its new and exciting life as Rivermark Northern Liberties. This project will activate the Delaware River Waterfront in new and exciting ways, setting a new standard for Waterfront living and recreation in the city of Philadelphia," said DRWC President Joe Forkin.
“The potential of this 9-acre transit-oriented site is tremendous,” said Drew Chapman, JAG Senior Vice President and Development Partner. “Rivermark Northern Liberties will be a remarkable transformation for all residents and visitors of Philadelphia to enjoy—from the extension of the Delaware River Trail to the benefit of on-site retail and the grocery store, Rivermark will offer a scenic waterfront setting with convenient lifestyle, shopping and dining options, especially to those who will call it home.”
The development’s 470 residential units will be spread across two mid-rise buildings (five and six stories). There will be a mix of studio and one-, two- and three-bedroom apartments, some with dens. There will also be premium rental units, including two- and three-bedroom townhomes and two-level apartments. Units range in size from 580 square feet to 1,228 square feet.
Many of the units will offer private balconies with unobstructed views of the Delaware River and Ben Franklin Bridge, and all will feature high-end finishes throughout.
Resident amenities include an elevated swimming pool overlooking the river, two unique rooftop speakeasy lounges with outdoor terraces, a courtyard with fire pit and grilling stations, two fitness centers with an interactive studio, clubroom lounge with fireplace, game room with vintage arcade games, micro-offices, conference room, podcast studio, a pet spa, and a bike room.
The walkable Northern Liberties neighborhood will be enhanced by the connectivity being created between the Spring Garden SEPTA station and the waterfront. The development is just two blocks from the train station, with an 8-minute ride into Center City. It also has immediate access to Interstate 95 and the Ben Franklin Bridge and is 15 minutes from the Philadelphia International Airport.
Construction debt financing for Rivermark Northern Liberties is provided by Citizens Bank and Santander Bank.